David Fuller's view Siemens (weekly & daily) was my largest equity trade recently, opened last month to take additional advantage of the stock market rally following trend mean reversions towards the rising 200-day moving averages. I held spread-bet contracts for June and these were stopped out today, first at €73.96, against my most recent and expensive purchase at €73.90 (25% of the position) on 30th March. The bulk of the June Siemens longs were stopped out at €73.491, against purchases at €67.99 (50% of the position) and €71.33 (the remaining 25%), on 5th and 23rd March, respectively. These prices include all spread-bet dealing costs, which are quite high for individual equities (€0.56 on these closes). I still like Siemens and would consider repurchasing it if the current stock market consolidation brings it closer to the large underlying trading range.

This afternoon I reopened half of my previous USD/JPY trade which had been stopped out at a small profit of ¥93.00 on Wednesday. Today I paid ¥92.94 for another September position, including spread-bet dealing costs of ¥0.13. I am likely to add to this position in the event of further easing.

My biggest remaining leveraged bet - by far - is in gold futures. These are now protected, conservatively, with breakeven stops. If the market obliges with a run to the upside I will continue to leverage up behind trailing stops. I may also trade more actively with a portion of this position, in Baby Steps and on a buy-low-sell-high basis.